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Market competition

Although market competition is important in today's markets, a company must also consider its customers. Building customer relationships to create a profitable relationship is necessary when designing its strategies. A company can become so competitor-centered that it loses focus on maintaining profitable customer relationships.

Pick a company you feel has lost focus on maintaining profitable customer relationships, and explain why you think this occurred.

1) What do you feel is the best way to maintain balance between competitor and customer orientations? Provide an example.
Does this strategy change as the company changes? Provide an example of how and why a company's strategy might change.

Solution Preview

You indicated that you had chosen Best Buy as a company that has lost its focus on maintaining profitable customer relationships as they have lost their focus. I have to agree with your assessment. I have noticed that since another major retailer went out of business, Circuit City, Best Buy has seemed to rest on their laurels instead of trying to improve their customer service. When Best Buy first opened they were so customer driven and that drive has failed somewhat. I think you are right, Best Buy does not have as many competitors, as they once did, at least where I reside. Just recently another electronics store opened to provide them some competition, which is H.H. Gregg. I think that the recent emergence of this store may ...

Solution Summary

This solution discusses market competition.

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